Jerry Petersen
Stored energy technologies provider EnerSys has entered into a definitive agreement to acquire for $208 million Bren-Tronics, a manufacturer of portable power products for defense customers.
EnerSys said Thursday it expects to close the all-cash transaction by the second quarter of 2024.
Following the acquisition, Bren-Tronics will be integrated into EnerSys’ Specialty business.
EnerSys President and CEO David Shaffer described the acquisition as “a strategic move that will strengthen our position as a critical enabler of the energy transition and supports our growth in the attractive and growing military and defense end market.”
Shaffer went on to note that the culture of his company and that of Bren-Tronics are “well-aligned” while their products portfolios “are highly complementary.”
“We look forward to welcoming the Bren-Tronics team into EnerSys at closing anticipated in the coming months,” the EnerSys chief executive said.
For his part, Bren-Tronics President and CEO Sai Fung said that combining with EnerSys “is an exciting opportunity” that will make it possible for the two organizations “to leverage our respective strengths to solve critical [Department of Defense] energy storage challenges together.”
